Stamp Duty Land Tax (SDLT) receipts have fallen by 13.8 percent in Q2 2018, compared with the same period in 2017, representing a drop of £317 million, according to London Central Portfolio’s (LCP) analysis of HMRC’s Quarterly Stamp Duty Land Tax (SDLT) statistics.

The report found that despite the top rate SDLT increasing from seven to 12 percent and the introduction of the Higher Rate for Additional Dwellings (HRAD) of three percent, SDLT receipts are no greater than in Q3 2015.

Total receipts in Q2 2018 totalled just under £2 billion and it appears that revenues are being bolstered by the HRAD, wh...